Council to consider trust fund
COUNCILLORS will consider the formation of a Coffs Harbour City Council Futures Fund at Thursday’s Coffs Harbour City Council meeting.
The proposed fund will be made up of three trust entities – the Coffs Harbour City Council Protection of the Environment Trust; Coffs Harbour City Council Futures Trust and the Coffs Harbour City Council Cultural Trust.
The principles of the environmental trust will be based on the draft Coffs Harbour Priority Habitats and Corridors Strategy 2010-2030.
The Trust will provide a means for developers to contribute to an offset scheme, when compensatory planting cannot be achieved such as small residential blocks, to fund rehabilitation and restoration of native vegetation elsewhere in the local government area.
The principal aim of the cultural trust will be to promote performing arts, visual arts, design, film, radio and community arts.
The futures trust will be established with the intention of promoting and facilitating benevolent acts by private individuals, to be used to fund work such as the enhancement of public places; the provision of sporting facilities and the preservation of historic buildings.
Each of the proposed trusts will be managed by a board of trustees established by council. The board of trustees will consist of four council representatives: two councillors and two senior staff, and three community representatives.